Enest Group Bhd has officially launched its initial public offering (IPO) at an issue price of 13 sen per share as the edible bird’s nest processor prepares to transfer from the LEAP Market to the ACE Market of Bursa Malaysia Securities.
The Enest IPO comprises 116.25 million new shares, equivalent to 20% of the company’s enlarged share capital of 581.25 million shares, together with an offer for sale of 15.05 million existing shares. At the IPO price, the public issue is expected to raise RM15.11 million, while proceeds from the offer for sale will go to the selling shareholders.
The transfer to the ACE Market is expected to broaden Enest’s investor base by allowing participation from retail investors and institutional funds, while improving the company’s market visibility and share liquidity.
Enest Strengthens Balance Sheet While Expanding Production
According to Enest, RM5 million of the IPO proceeds will be used to repay bank borrowings, RM6.41 million has been allocated for working capital, while the remaining RM3.7 million will cover listing expenses.
Chief Financial Officer Christopher Tan Yew Leong said the borrowings were mainly used to acquire two factory properties in Sepang and Kajang, which will support the group’s long-term expansion plans.
Founded in 2015, Enest has grown into one of Malaysia’s leading edible bird’s nest processors and exporters. The group processes and sells raw cleaned edible bird’s nest (RCEBN), trades raw unclean bird’s nest (RUBN), distributes processed bird’s nest products, and operates a health and personal care retail business under the Kang Li brand.
China remains Enest’s largest market, contributing approximately 62.8% of its FY2025 revenue, with exports supplied to distributors, importers, retailers and state-owned enterprises. The company is also among Malaysia’s top 10 exporters of raw cleaned edible bird’s nest to China by volume, supported by two General Administration of Customs of China (GACC)-registered processing facilities.
Enest Targets Higher Value Products And Faster Export Growth
Looking ahead, Enest plans to relocate and expand its Kajang facility to establish an in-house production line for bottled bird’s nest and herbal beverages. The new facility will have an annual production capacity of up to 300,000 bottles, allowing the company to manufacture its own value-added products instead of relying on third-party contract manufacturers.
The group also plans to expand its raw unclean bird’s nest exports directly to China, creating an entirely new revenue stream while leveraging its sourcing network of approximately 940 registered swiftlet houses across Malaysia. At the same time, Enest aims to broaden its customer base by supplying more traditional Chinese medicine manufacturers and wellness product companies in China.
Managing Director Tan Teh Jie described the IPO as an important milestone for Enest, saying it will strengthen the company’s balance sheet and provide the financial resources needed to support its next phase of growth.
M & A Securities Sdn Bhd is acting as the adviser, sponsor, underwriter and placement agent for the IPO exercise. Enest is scheduled to be listed on the ACE Market of Bursa Malaysia on 15 July 2026, marking a new chapter in the company’s expansion journey.
Sources: here
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